Freddy's Largest Franchisee Buys 43 More Stores
JRI Hospitality, already the largest franchisee of Freddy's Frozen Custard & Steakburgers, has acquired 43 more locations from HCI Hospitality. The deal expands JRI's holdings to over 130 restaurants across 18 states, continuing its rapid growth in the fast-casual dining sector.
The deal solidifies JRI Hospitality's position as a powerhouse within the Freddy's system, continuing an aggressive expansion strategy. The company, founded in 2011 by Jason Ingermanson, has a history of growth through acquisition, having previously purchased Freddy's locations in Pennsylvania, Nevada, and California. Beyond its stake in Freddy's, the Salina, Kansas-based JRI Hospitality also operates other restaurant concepts, including Mokas Coffee & Eatery and The Original Grande. The seller, HCI Hospitality, is a Manhattan, Kansas-based company that has operated more than 40 Freddy's locations. In addition to its fast-casual holdings, HCI also runs several award-winning local restaurants in Kansas and a Wagyu beef business. The company has also been involved in developing new Freddy's locations, including a 2021 deal to open seven restaurants in Texas. This franchisee-to-franchisee sale comes amid a period of record-breaking growth for the Freddy's brand. Founded in 2002, the Wichita-based chain has been rapidly expanding, opening 62 new restaurants in 2023 alone and surpassing 580 locations by early 2026. Freddy's has ambitious goals for the future, with a target of reaching 800 operating restaurants by 2026. The company's growth is fueled by multi-unit development agreements with franchisees, with 22 such deals signed in 2025 to add 118 new restaurants across the United States and Canada. This latest acquisition by JRI Hospitality represents a significant step towards that larger goal.
